Pensioenfonds Hoogovens’ coverage ratio falls further over March

Latest News

Pensioenfonds Hoogovens’ coverage ratio falls further over March

By Natalie Tuck

17/04/20

The coverage ratio of the Netherlands’ Pensioenfonds Hoogovens fell from 101.6 per cent to 94.7 per cent in March, it has revealed.

The fund said the actuarial interest rate had a negative effect of 7.0 percentage points on the development of the current funding ratio. At the end of last year, the coverage ratio of the scheme was 111.5 per cent.

In addition, the value of the invested capital has decreased from €9,545m to €8,633m since the start of the year.

Its policy funding ratio, the average coverage ratio over 12 months, fell from 107.6 per cent to 106.1 per cent over March. The policy funding ratio is therefore 13.7 percentage points lower than the required funding ratio of 119.8 per cent, the fund said.

At the end of 2019 the policy funding ratio was 109 per cent.

Podcast - The power of three: Using Common Contractual Funds to improve tax outcomes for investors

Large asset owners are still investing in equities in a way where they are taxed on their income. The implication is that they get a poorer return. They need to, and can, improve this, but how?

In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.

How the US’s robust securities law can benefit European investors

Over recent years several financial scandals have shocked investors, such as the Danske Bank money laundering case. When a scandal like this occurs, investor returns suffer, which is why many seek redress. Many European investors seek to recover assets lost as a result of securities fraud through U.S. courts, with their robust securities laws.

In this podcast, Jeremy Lieberman, Managing Partner at Pomerantz LLP, talks to European Pensions Editor, Natalie Tuck, about how European investors can use U.S. courts to recover assets lost to securities fraud and the challenges facing investors seeking compensation.

Mitigating risk